- Matthew Proud to step down as CEO after transition period
- Comprehensive CEO selection process will be initiated to identify a successor
- Board and management team will continue to execute on Dye & Durham’s Value Creation Plan
TORONTO, Nov. 26, 2024 /CNW/ – Dye & Durham Limited (“Dye & Durham” or the “Company“) (TSX: DND) board of directors (the “Board”) today announced that Matthew Proud has decided to step down from his role as Chief Executive Officer of the Company. Mr. Proud will remain in his role for approximately three months or until the Board-led search for his successor is completed. The Board is grateful to Mr. Proud for his contributions and his ongoing support as Dye & Durham transitions to new leadership and a new era of growth for the Company. Under Mr. Proud’s leadership, Dye & Durham has grown from a small regional single product company with an enterprise value of approximately $4 million, to a global legal technology leader worth over $2.56 billion in enterprise value.
“On behalf of the Company and the entire Dye & Durham Board, I would like to thank Matt for his invaluable contributions to the Company,” said Colleen Moorehead, Chair of the Board. “Since becoming CEO of our predecessor company in 2014, Matt’s leadership has been instrumental in Dye & Durham’s exceptional growth and position in the legal technology market, navigating the Company through its successful IPO and the completion of multiple, value-accretive acquisitions and partnerships to date. We look forward to working collaboratively with Matt and the senior leadership team during this interim period, ensuring a smooth transition, and continuing to execute on our Value Creation Plan.”
“I am incredibly proud of the Company we have built together, and I would like to thank the outstanding Dye & Durham team, the Board, and our partners for their support. The senior leadership team is focused and energized and will provide continuity through and following the succession transition,” said Mr. Proud. “Over the past several years, we have grown Dye & Durham into a remarkable, global SaaS legal tech business that has revolutionized the legal software industry. We have strategically and deliberately expanded our solutions suite, geographical presence and customer base since founding, and now through our Unity global platform we offer law firms everything they need to run their practice in a central location. With Dye & Durham well-positioned for a new era of growth, I believe that this is the best time to evolve our leadership to a new CEO who will inspire our next stage of growth and keep our momentum going. I plan to remain a stakeholder and advocate for Dye & Durham.”
Dye & Durham provides premier practice management solutions and vital data insights software that supports critical risk management decisions empowering legal professionals every day. The Company remains committed to executing on its recently published ‘Value Creation Plan’ to continue driving sustainable long-term value for all stakeholders. Details on the Value Creation Plan can be found in the Investors section of the Company’s website and on SEDAR+ under the Company’s profile at www.sedarplus.ca.
ABOUT DYE & DURHAM LIMITED
Dye & Durham Limited provides premier practice management solutions empowering legal professionals every day, delivers vital data insights to support critical corporate transactions and enables the essential payments infrastructure trusted by government and financial institutions. The company has operations in Canada, the United Kingdom, Ireland, and Australia.
Additional information can be found at www.dyedurham.com.
Forward-Looking Statements
This press release may contain forward-looking information within the meaning of applicable securities laws, which reflects Dye & Durham’s current expectations regarding future events. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements.
Forward-looking statements are not historical facts, nor guarantees or assurances of future performance but instead represent management’s current beliefs, expectations, estimates and projections regarding future events and operating performance. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Dye & Durham’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed under “Risk Factors” in Dye & Durham’s most recent annual information form. Dye & Durham does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
SOURCE Dye & Durham Limited
FOR FURTHER INFORMATION, PLEASE CONTACT: Investor Relations: Huss Hirji, VP, Investor Relations, Dye & Durham Limited, Email: [email protected], Phone: 647-323-7193
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